NVIDIA Corporation (NASDAQ: NVDA) has overtaken Alphabet (NASDAQ: GOOG) as the third most valuable company in the United States. With a staggering market capitalization of $1.83 trillion, NVDA stock soared to new heights on Wednesday, defying expectations and solidifying its dominance in the tech sector.
NVIDIA (NASDAQ: NVDA) stock rose by 2.46% on Wednesday, propelling the company ahead of Alphabet (NASDAQ: GOOG) with a market capitalization of $1.832 trillion, just edging past Alphabet’s $1.814 trillion.
The artificial intelligence (AI) and semiconductor giant achieved this milestone amidst a steady rise in its stock value throughout the month.
Notably, this feat places NVIDIA just behind Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL) based on market value.
Moreover, NVIDIA’s triumph extends beyond Alphabet, as it also eclipsed another tech giant, Amazon (NASDAQ: AMZN), in market valuation on Tuesday. This marks the first time since April 18, 2022, that NVIDIA has surpassed Amazon, with a current market cap of $1.83 trillion compared to Amazon’s $1.78 trillion.
The impending earnings report scheduled for February 21 adds to the anticipation surrounding NVIDIA’s remarkable performance. Analysts expect substantial growth, with projections indicating a staggering 400% increase in fourth-quarter profit to $11.38 billion and revenue surging more than three-fold to $20.37 billion.
If NVIDIA meets or exceeds these expectations, it could consolidate its position as the world’s third-highest-valued company, solidifying its dominance in the tech sector.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
